Summary: S.2805 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.2805. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (11/06/2019)

TOD Advancement Act of 2019

This bill revises and extends until December 4, 2021, the Railroad Rehabilitation Improvement and Financing program.

Specifically, the bill

  • authorizes the Department of Transportation to provide transit-oriented loans and loan guarantees under the program; and
  • revises eligibility guidelines under the program to include financing economic development that (1) incorporates private investment of greater than 20% of total project costs; (2) is physically connected to, or within a half mile walking distance from, a passenger rail station or multimodal station that includes rail service; and (3) will commence construction within 90 days after the loan or loan guarantee is obligated for the project.